Apartment Building Construction Price Index, third quarter 2014
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Released: 2014-11-12
The composite price index for apartment building construction rose 0.3% in the third quarter compared with the previous quarter. This change was the result of a slight increase in the prices of materials used in apartment building construction.
Of the seven metropolitan areas (CMAs) surveyed, six reported quarterly increases, ranging from 0.1% to 0.6%. The largest increase was in Vancouver (+0.6%), followed by Ottawa–Gatineau, Ontario part (+0.5%). The CMA of Calgary (-0.1%) reported the only decrease.
Year over year, the composite price index for apartment building construction was up 1.3%. Of the CMAs surveyed, Halifax (+1.9%) recorded the largest year-over-year gain, while Calgary (+0.9%) recorded the smallest increase from the third quarter of 2013.
Note to readers
The Apartment Building Construction Price Index is a quarterly series that measures changes in contractors' selling prices of new apartment building construction in seven census metropolitan areas: Halifax, Montréal, Ottawa–Gatineau (Ontario part), Toronto, Calgary, Edmonton and Vancouver.
Selling prices include costs of materials, labour, equipment, provincial sales taxes where applicable, and contractors' overhead and profit. The cost of land, land assembly, design, development, and real estate fees are excluded. Value added taxes such as the Federal Goods and Services Tax, and the Harmonized Sales Tax are excluded.
With each release, data for the previous quarter may have been revised. The index is not seasonally adjusted.
The Apartment Building Construction Price Index for the fourth quarter of 2014 will be released on February 10, 2015.
Contact information
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